Dish Network tried to buy MetroPCS in August for $4 billion
The SEC document refers to a Company G that approached MetroPCS the night before the T-Mobile deal was announced, showing interest in the pre-paid carrier. An executive from Company G, which is Sprint, made references to the capital coming into the company thanks to its deal with Japan's Softbank and brought up Sprint's interest in purchasing MetroPCS. The executive was told about the deal with T-Mobile and expressed hope that the deal would not take place. But he said that if it did, he hoped the break-up fee would be reasonable, hinting that Sprint would go ahead anyway with an offer for MetroPCS. The break-up fee is $150 million if MetroPCS backs out of the deal with T-Mobile. The Sprint executive's hint about lobbing in a bid somehow leaked, leading to rumors that the carrier was about to make its own play for the pre-paid operator.
Ironically, Sprint had an $8 billion deal in place to buy MetroPCS last year in a transaction that Sprint CEO Dan Hesse had pushed for. But Hesse's Board of Directors voted against the acquisition which was immediately dropped. As it turns out, two days after AT&T pulled out of its $39 billion transaction to buy T-Mobile last December, the latter's German parent,Deutsche Telekom, approached MetroPCS about a deal. Months later, it has resulted in T-Mobile's proposal to buy MetroPCS, a deal that should close in the second quarter of 2013.